Nextech Invest Portfolio Company MacroGenics Starts Trading on NASDAQ
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Nextech Invest Portfolio Company MacroGenics Starts Trading on NASDAQ
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IPO of Nextech II Oncology portfolio company oversubscribed
Zurich (Switzerland), October 10, 2013 - Nextech Invest Ltd., the specialist
cancer venture capital investor, announced today the Initial Public Offering of
its portfolio company MacroGenics Inc. (NASDAQ: MGNX; Rockville, USA) and its
listing on the US NASDAQ exchange. In the IPO, MacroGenics raised a total of US$
80 million, significantly more than expected, on the sale of 5 million shares at
a price of US$ 16 per share, valuing the company at US$ 350 million. Nextech
Invest led the last private financing round of MacroGenics in 2008.
"After having realized three successful exits, we have now completed our first
IPO from our Nextech II Oncology Fund. We are very pleased to see this exit
avenue works so well on the world's most buoyant stock exchange," said Alfred
Scheidegger, Founding Partner at Nextech Invest Ltd. "Together with our previous
exits from the Nextech II Oncology portfolio, MacroGenics has now proved our
investment strategy in later stage oncology companies, a strategy that continues
to fulfill our expectations. I would like to wish the MacroGenics management
team great fortune over the coming years and success in the clinic with
Margetuximab, which is in Phase II clinical trials to treat metastatic breast
cancer and gastroesophageal cancer."
About Nextech Invest Ltd.
The global specialist life sciences venture capital firm Nextech Invest Ltd.,
established in 1998, focuses on investing in oncology related companies.
Supported by an outstanding Scientific Advisory Board of seven world-leading
oncologists chaired by Professor David Livingston, Deputy Director Dana-
Farber/Harvard Cancer Center, Nextech Invest is investing in emerging companies
with pioneering innovations in cancer research that have compounds in advanced
clinical trials. The two Nextech funds have a total of US$ 100 million under
management. Nextech Invest has made ten investments to date, of which three have
already been exited. Nextech Invest, based in Zurich, is a longstanding member
of leading networks in private equity, such as EVCA, SECA and EVPA. Nextech
Invest works closely with the Union for International Cancer Control (UICC).
For more information, please contact:
Alfred Scheidegger
PhD, Founding Partner & CEO
Nextech Invest Ltd.
Tel.: +41 44 366 66 12
scheidegger(at)nextechinvest.com
www.nextechinvest.com
Press release (PDF):
http://hugin.info/158778/R/1734820/581135.pdf
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Source: Nextech Invest AG via Thomson Reuters ONE
[HUG#1734820]
Unternehmensinformation / Kurzprofil:
Datum: 10.10.2013 - 15:44 Uhr
Sprache: Deutsch
News-ID 304784
Anzahl Zeichen: 3567
contact information:
Town:
Zurich
Kategorie:
Business News
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